A woman walks past the IBM logo at the 2011 CeBIT technology trade fair in Hanover, Germany. Nintendo started off selling playing cards. At the core, you may feel like the same person, but through new experiences, advancing technology, and evolving tastes, it’s pretty certain that you are and will continue to be a reinvention of your former self. Why Organizational Reinvention Is a Must Associations Now March/April 2015 By: Kristin Clarke. The Wall Street Journal. They have responded to the rise of China and new global competition by … The Business Reinvention of Japan: How to Make Sense of the New Japan and Why It Matters [Schaede, Ulrike] on Amazon.com. IBM's reinvention is often studied in business schools. KFC decided that if it was going to sell to young people, it would need to evolve and change its menu over time. In an effort to remain authentic, attract younger consumers, and stay true to its loyal core of customers,  KFC not only revamped its menu but created fun ads, inspired by its classic Colonel Sanders, that turn “every occasion into a chicken-selling holiday.” Campaign results have been small, but successful. (Jan. 2, 2014) http://online.wsj.com/news/articles/SB10001424052702303531204579203861742570436, Melia, Mike. "IBM's Transformation — From Survival to Success." Legendary video game producer Shigeru Miyamoto kicks off Nintendo's showcase at the Electronic Entertainment Expo (E3) 2013 at the Los Angeles Convention Center. For example… During the transition, you'll likely be running two businesses at once as you … "Worldwide Server Market Revenues Decline." (Jan. 2, 2014) http://www.success.com/article/about-face-companies-that-reinvented-themselves, Nokia. In “Brainstorm: Unleashing Your Creative Self,” Hahn states that the process of change can be painful, but “it’s a constant part of the human journey.” And, while change can happen in a forceful manner (i.e. To stay competitive, the Yellow Pages decided it was time to make some changes. (Jan. 2, 2014) http://www.forbes.com/profile/warren-buffett/, Frierman, Shelly. (Jan. 2, 2014) http://www.shell.com/global/aboutshell/at-a-glance.html, van Kralingen, Bridget. "What's Next for Steve Jobs and Apple?" Most of today’s consumers (especially millennials) search the internet — specifically on their cell phones — for businesses and phone numbers. (Jan. 2, 2014) http://www.pbs.org/newshour/rundown/2013/09/a-look-at-the-legacy-of-nintendos-yamauchi.html, Moltz, John. ... serve customers and to establish business continuity. With the hopes of being a trusted resource for generations to come. Whether you’re coming up with new ideas to stay ahead of your competitors or you’re making adjustments to products to remain aligned with a new generation of consumer’s wants and needs, it’s imperative to never let your business or your brand become stagnant. (KFC) (established in 1930) noticed that younger consumers preferred eating chicken in a different way than earlier generations. You can find more posts on the Smarter Searches blog, Brainstorm: Unleashing Your Creative Self, How a CRM Can Help You Learn from Your Mistakes, Adapting Your Digital Strategy During the Coronavirus Pandemic. 30 of the Best Business Tagline Examples. Wipro started out selling vegetable oil. It’s time to figure out what makes your heart giddy for your products or services. (Jan. 2, 2014) http://www.bbc.co.uk/news/business-17865117, Wipro. Business reinvention can run the gamut from rebranding or refocusing to an entirely new business model—or new business. A general view of the Apple store on Regent Street, London. The winter issue of Pinal Ways looks at a wide range of those examples … "What Apple does best: reinventing, not inventing." "Warren Buffett." Weird & Wacky, Copyright © 2021 HowStuffWorks, a division of InfoSpace Holdings, LLC, a System1 Company. “To exist is to change, to change is to mature, and to mature is to go on creating oneself endlessly.”. It shouldn’t, says Pamela Mitchell, founder and CEO of The Reinvention … Josh Linkner, author of The Road to Reinvention, say it's your job to make what you're doing today obsolete. To stay competitive, the Yellow Pages decided it was time to make some changes. (Jan. 2, 2014) http://www.shell.com/global/aboutshell/who-we-are/our-history/the-beginnings.html, Shell. Empower Influencers. In 2006, Old Spice (established in 1938) reinvented itself by ditching its iconic, yet … Reinvention is more about the dream than about the approach; it assumes a willingness to completely rethink the business, so that not only is the business model redone, … Google restructured itself using strategies designed to maintain the company profitable over the long-term, reformulating its business … PC Mag. Get more in-depth insights into the reinvention of normal and check out the Adobe Business Continuity Playbook for lessons on adapting and advancing your business … (Jan. 2, 2014) http://online.wsj.com/news/articles/SB10001424052702304579404579232351285066532, IDC. *FREE* shipping on qualifying offers. The Yellow Pages (established in 1886) had been doing that for decades — in print. Most of today’s consumers (especially millennials) search the internet — specifically on their cell phones — for businesses and phone numbers. Simply putting your products and services online or changing your marketing strategy isn't a reinvention. Earlier examples include Toyota surpassing GM, Dell beating IBM, Walmart besting Sears and Kmart, UPS launching a B2B logistics offering, and Berry Gordy who built Detroit’s Motown … “It is really hard to build a business … Once best-known for telegrams, Western Union has reinvented itself as a money transfer business. (Jan. 2, 2014) http://www.nokia.com/global/about-nokia/about-us/the-nokia-story/, Old Computers. "Latin Migrants Shift Sights from U.S. to Neighbors." Reinvention definition: the act or an instance of replacing a product, etc with an entirely new version | Meaning, pronunciation, translations and examples With a reinvention strategy in place, you'll be prepared for the unexpected. Reinvention is about using familiar methods to find new solutions to problems--not to be confused with "repurposing," "repackaging," or "refining." Mr Reeves concludes with a very successful example of business reinvention. (Jan. 2, 2014) http://www.idc.com/getdoc.jsp?containerId=prUS24285213, Jones, Teegan. (Jan. 2, 2014) http://www.westernunionworld.com/ourhistory/, Williamson, Lucy. Success. New entrants such as Amazon, Google, and Facebook, as well as Starbucks, CarMax, Amgen, Tesla, Netflix and Salesforce all came into being largely by discovering new ways to generate … (Jan. 2, 2014) http://oldcomputers.net/apple-newton.html, Rao, Bharat and Mulloth, Bala. Sept. 19, 2013. With the hopes of being a trusted resource for generations to come, Kelley Blue Book (established in 1926) knew that it needed to reinvent itself in a way that proved it was still valuable. Western Union is so popular for remittances that agencies use its money transfer statistics to track the global movement of migrant labor. No man is an island -- sorry for all of the Road reinvention... 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